Categories: Agreements

ADB and India signed an agreement for road upgradation project in Sikkim

The Asian Development Bank and the Government of India signed an agreement for financing road up-gradation project in Sikkim. ADB will give a $2.5 million project readiness financing (PRF) loan to support projects related to upgradation of major district roads in Sikkim. It will improve the connectivity and also boost the economic activities in the state. The project readiness nancing (PRF) will help in connecting the major district and other roads with the national and state highway network.

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In 2011, the ADB-funded North Eastern State Roads Investment Program was launched to improve road connectivity in Sikkim. The state agencies will prepare detailed engineering designs of selected sub-projects and do feasibility studies. Sikkim’s road network requires regular up-gradation due to frequent landslides and erosion.

Important takeaways for all competitive exams:

ADB is a regional development bank established in 1966;
ADB Members: 68 countries (49 members are from Asia pacific region);
ADB is headquartered in Mandaluyong, Philippines;
Masatsugu Asakawa is the current president of ADB.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.